Asahi Kasei (OTCMKTS:AHKSY) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Key Points

• Asahi Kasei reported earnings of $0.45 per share for the quarter, exceeding expectations by $0.18.
• The company's revenue was $4.96 billion, falling short of the forecasted $5.15 billion.
• Shares of Asahi Kasei rose 2.4% following the earnings announcement, reaching a trading price of $14.23.

Asahi Kasei (OTCMKTS:AHKSY - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.18, Zacks reports. Asahi Kasei had a net margin of 3.95% and a return on equity of 7.48%. The company had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $5.15 billion.

Asahi Kasei Stock Up 2.4%

Shares of OTCMKTS AHKSY traded up $0.33 during mid-day trading on Friday, reaching $14.23. The company had a trading volume of 5,899 shares, compared to its average volume of 17,018. The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $13.75 and a two-hundred day simple moving average of $13.69. The stock has a market cap of $9.92 billion, a P/E ratio of 12.27 and a beta of 0.52. Asahi Kasei has a 52-week low of $12.12 and a 52-week high of $15.80.

Analyst Upgrades and Downgrades

Separately, CLSA cut shares of Asahi Kasei from a "moderate buy" rating to a "hold" rating in a research report on Thursday, June 5th.

Asahi Kasei Company Profile

Asahi Kasei Corporation manufactures and sells chemicals. It offers caustic soda, chemical fertilizers, nitric acid, ammonia, acrylonitrile, methyl methacrylate, styrene, adipic acid, hexamethylene diamine, AH salt, propionitrile, sodium cyanide, acetonitrile, methacrylonitrile, cyclohexyl methacrylate, polyethylenes, polyethylenes powder, PMMA resin, polystyrene, polybutadiene rubbers, styrene/butadiene rubbers, clear styrenic copolymer, styrenic thermoplastic elastomer, hydrogenated styrenic elastomers, membranes and systems, functional materials, foams, purging compound, polyisocyanates, polycarbonatediol, aluminum paste, latex, photopolymers and platemaking systems, films, cyclohexanol, cyclohexane, and cyclohexene.

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